European Hydrogen Bank with Jack Colreavy - ABSI Episode 20

Winston Churchill famously once said “never let a good crisis go to waste” and the current energy crisis in Europe has opened wide the door for new energy sources to enter grids in a meaningful way and provide energy diversification. 

Jack Colreavy’s ABSI explores the establishment of the European Hydrogen Bank and the role green hydrogen will play for a continent in energy turmoil.

Read the Conversation:

Exciting news for green hydrogen last week with the European Union announcing the establishment of a European hydrogen bank. Now the details are very limited at this stage, but it will be initially capitalized at 3 billion and the purpose of the bank will be to purchase green hydrogen from the market and then sell it on to users of green hydrogen.

Now what this will do, it will stimulate the production of green hydrogen in the European Union because sellers of green hydrogen now know they have a bar of last resort. This obviously coming off the back of a European energy crisis with Russian natural gas, but it's also in direct response to other countries offering very generous subsidies for green hydrogen.

America is the best example through their Inflation Reduction Act, which will subsidize green hydrogen. By up to 3 a kilo. From an Australian perspective, they are touted as a future superpower in the export of green hydrogen, and there are subsidies for future producers. However, given the generosity of green hydrogen subsidies in other territories, the Australian government will have to step up its game in order to continue to attract investment in the space.

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